US companies are trying to protect their access to capital by hiring all their lending banks as bookrunners in order to share out underwriting fees when issuing equity or debt securities. So far this year, 40% of corporate bond issues bigger than $500m have used more than three bookrunners, according to Dealogic – up from 22% a year earlier. Small deals of $100m or more have also employed more bookrunners. The proportion of such deals with more than three bookrunners has doubled this year to 30%.

This entry was posted by Gwen Robinson on Tuesday, May 26th, 2009 at 5:03 and is filed under Capital markets. Edit this entry.